Quiz: Do You Have What It Takes to Be an Entrepreneur? If you're thinking about starting a business, it's time for some personal assessment. Take this informal quiz to see how your personality compares with the popular profile of today's successful entrepreneurs.

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Maliha Mannan | StockSnap.io

There is an enormous difference between wanting to do something and being able to make a living at doing that something. Have you ever watched the American Idol audition shows and witnessed a tone deaf singer's shocked reaction when the say he or she will never have a shot at becoming a professional singer? The same thing can be true for entrepreneurship.

Being a successful business owner requires investing your own money in addition to a ton of time and effort. Despite the appeal of being your own boss, the reality is that not everyone is cut out to be a successful business owner.

Here are five quick personality assessments to evaluate before taking the entrepreneurial plunge:

Are you Santa or an elf?

Entrepreneurship requires managing a wide variety of tasks as part of the business, from marketing and accounting to training, customer service and more. Can you wear multiple hats, as Santa does with Christmas, or do you prefer to be the elf that loves to execute specific tasks? Do you take initiative or do you want clear instructions? Santas make better entrepreneurs than elves do.

What's your relationship with money?

Starting a business requires money to start, to operate and for you to live on while it scales. If you are a big spender and aren't great at managing money, those bad habits are likely to follow you into a business. And if you are usually unable to make worthwhile investments in the future of your business for fear of ending up living in a cardboard box if things go wrong then you may end up penny wise and pound foolish, as they say. Having a solid, non-emotional money relationship will help you make wise business decisions.

Are you comfortable flying blind?

The only thing that is certain in business is that nothing is certain. Are you comfortable with being uncomfortable? Can you handle taking educated risks and surviving the constant ups and downs of owning a business? If you are looking for the certainty or a drama-free zone, you may find yourself terrified of the entrepreneurial roller coaster.

Are you ready to commit?

Running a successful business is not just about having great ideas. It's more about strong execution. So, if you have a hard time staying focused, you are lousy with commitments and you're averse to the idea of working day in and day out on the same thing, then entrepreneurship may just be a passing fancy for you.

Were you born for business?

Were you interested in business as a child? Did you seek out entrepreneurial roles in school, in social organizations or even in your previous job? A natural inclination of past interest in entrepreneurship seems to be a good potential indicator of future success.

Think you're cut out to be an entrepreneur? Or are you still unsure? Take this informal quiz to see how your answers compare with the popular profile of today's successful entrepreneurs.

Carol Roth

Entrepreneur, TV host and small business expert

Carol Roth is the creator of the Future File™ legacy planning system, a “recovering” investment banker, business advisor, entrepreneur and best-selling author. She is also a reality TV show judge, media contributor and host of Microsoft’s Office Small Business Academy. A small business expert, Roth has worked with companies of all sizes on everything from strategy to content creation and marketing to raising capital. She’s been a public company director and invests in mid-stage companies, as well.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Related Topics

Data & Recovery

Get 2TB of Cloud Storage with PhotoSphere for Just $280 for a Limited Time

Easily store and access photos, videos, and other files spread across your work devices.

Business Solutions

Stay Organized with This Task Management Tool, on Sale for $30

A Study Planr Pro subscription is just $30 for life.

Thought Leaders

10 Simple, Productive Activities You Can Do When You Aren't Motivated to Work

Quick note: This article is birthed out of the urge to do something productive when I am not in a working mood. It can also inspire you on simple yet productive things to do when you're not motivated to work.

Business Ideas

55 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Here Are 3 Strategies Startup Founders Can Use to Approach High-Impact Disputes

The $7 billion "buy now, pay later" startup Klarna recently faced a public board spat. Here are three strategies to approach conflict within a business.